Pledge over (i) the shares in each existing and future Material Group Companies within the Restricted Group, excluding the Issuer, (ii) the shares in each HoldCo following completion of the Permitted Reorganisation, (iii) following completion of the Permitted Reorganisation, the shares in each Material Excluded Subsidiary Group Company (to be released upon completion of an IPO of Norvika Capital, subject to a minimum primary equity raise of NOK 150m),(iv) certain existing and future Material Intragroup Loans, including, following completion of the Permitted Reorganisation, a pledge over the Excluded Subsidiary Loan (including ancillary security over the shares in each Material Excluded Subsidiary Group Company), and (v) the Escrow Account

Refinance the Outstanding Bonds, finance the acquisition of the Targets and general corporate purposes of the Group (including investments, acquisitions and Transaction Costs)